New York attorney general files motion to stop Trump’s ‘continued fraudulent practices’ – live

The Guardian’s David Smith has a look at what to expect today during what is likely to be the last public hearing of the January 6 committee, which will focus squarely on Trump’s actions as the Capitol was attacked:

The ninth and possibly final hearing of the congressional panel investigating the January 6 attack on the US Capitol will focus on Donald Trump’s “state of mind” as the insurrection unfolded.

The House of Representatives select committee will reconvene in Washington at 1pm on Thursday after a two-and-a-half month break, and is expected to present new video footage showing efforts to respond to the violence as it was unfolding.

“There is going to be some discussion of events that took place prior to election day and there’s going to be some looking at events that took place after January 6,” said an aide to the committee, who did not wish to be named. “We’re going to bring a particular focus on the president’s state of mind and his involvement in these events as they unfold.

“So what you’re going to see is a synthesis of some evidence we’ve already presented with that new, never-before-seen information to illustrate Donald Trump’s centrality to the scheme from the time prior to the election.”

New York attorney general Letitia James today accused Donald Trump and the Trump organization of trying to evade her investigation into their business practices by taking steps to move assets out of her reach and avoiding her attempts to serve court documents.

James last month announced a civil fraud suit against the former president and three of his children over accusations they falsely inflated Trump’s net worth to enrich themselves and secure loans on better terms. The suit added to the mounting legal threats against the former president, who is also under federal investigation for his role in the January 6 insurrection and the government secrets founds at his Mar-a-Lago resort.

In a just-released statement, James said she has asked a judge to approve several steps “to stop Mr. Trump and the Trump Organization’s ongoing fraudulent scheme and ensure funds are available to satisfy any disgorgement award.”

“Since we filed this sweeping lawsuit last month, Donald Trump and the Trump Organization have continued those same fraudulent practices and taken measures to evade responsibility. Today, we are seeking an immediate stop to these actions because Mr. Trump should not get to play by different rules,” James said.

Among the measures James said Trump and his business have taken is incorporating a new company in Delaware on the day the lawsuit was filed. The district attorney said the Trumps could move their assets to that business from New York, in a bid to stymie her case. James wants the court to block any such transfers, as well as appoint an independent monitor that would track Trump’s financial disclosures.

She also asked for permission to serve court documents to Donald and Eric Trump electronically “as both defendants and their counsels have refused to accept service of the complaints for almost a month.”

A big increase in monthly social security payments might sound like a good thing, but keep in mind, the government is doing it only because inflation is so high.

And today began with word that the consumer price wave didn’t subside much in September. Year-on-year, prices rose 8.2%, below the high of 9.1% in June but not much of a change from the 8.3% level in August. Monthly price growth actually accelerated in September, led by costs for food and, more worryingly, housing, one of the most potent contributors to inflation overall.

There will be a few consequences to this report. First of all, it will likely reinforce the Federal Reserve’s conviction that it needs to continue raising interest rates to quell demand and stop prices from rising so much. But it takes time to know the impact of rate increases, and the worry is that the central bank will overdo it and tighten conditions so much that the economy heads into a recession. Indeed, the head of the largest US investment bank warned as much earlier this week, though the Fed is far from the only threat to the economy right now.

Then there’s the impact on president Joe Biden and the Democratic party at large. As the saying goes, the buck stops with him, and polls have made clear voters care deeply about the state of the economy – and aren’t a huge fan of his handling of it. Consider this one from Monmouth University released earlier this month, which found inflation to be the top priority among voters surveyed, and Biden getting low marks for his handling of it.

If the 8 November midterms result in a wipeout for Democrats in Congress and statehouses nationwide, don’t be surprised if that dynamic turns out to be the reason why.

Good morning, US politics blog readers. Americans don’t have many nice things to say about the record streak of inflation that has beset the economy since the start of last year, but for retirees, it’s come with one benefit: larger social security payments. The government announced today it would raise monthly payments from the retirement program by 8.7%, its largest increase in 40 years, to offset rising prices for food, gasoline and other essentials. Older people tend to be reliable voters, so this may have knock-on effects for the midterms, where inflation is seen as a liability for president Joe Biden and the Democrats running nationwide to help him carry out his agenda.

Today is going to be a busy one!

• The January 6 committee will hold its ninth and potentially last public hearing at 1 pm eastern time today, focusing on what Donald Trump knew before and during the deadly insurrection at the Capitol.

• Consumer price data just released shows inflation remaining stubbornly high in September, bad news for the US economy and for Wall Street especially.

• Biden is in Los Angeles, where he will promote his infrastructure law announced last year and fundraise for Democrats.